Pre-Market Report – Wednesday 1 May: US Drop on Fed Concerns | WOW Sells EDV Stake

The S&P 500 dropped 1.57% to close at 5,035.69 The Dow Jones Industrial Average fell 570.17 points, or 1.49% to finish the session at 37,815.92. The Nasdaq shed 2.04% to 15,657.82.

It was an April for the major averages, with the Dow losing 5% for its worst monthly performance since September 2022. The S&P 500 slid about 4.2% this month, and the Nasdaq lost 4.4%. The three major averages snapped five-month winning streaks.

ASX SPI Futures down 92 points.

• Base metals mixed. Nickel +0.24%, Aluminium +0.41%, Zinc +1.86%, Lead +0.45% and Tin -3.81%.
• Copper eased -0.13% after four sessions of gains on slower manufacturing activity in China and a firm dollar.
• Gold tumbled 2.09% to a one-week low, pressured by rising bond yields and the US dollar.
• Oil prices extended losses from yesterday following rising US crude production and hopes of a Middle East ceasefire.  WTI -0.91% and Brent Crude -0.73%.
• 10Y Bond Yields – US 4.682%, Australia 4.479%, and Germany 2.591%.
• Currencies – AUD +0.03%, USD Index +0.68%, Euro -0.01%, and Bitcoin -4.34%.

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